Effects of the IMF and World Bank on public expenditure accountability in Jamaica

✍ Scribed by J. Harrigan

• Publisher: John Wiley and Sons
• Year: 1998
• Tongue: English
• Weight: 178 KB
• Volume: 18
• Category: Article
• ISSN: 0271-2075
• DOI: 10.1002/(sici)1099-162x(199802)18:1<5::aid-pad989>3.0.co;2-e

✦ Synopsis

This article analyses the positive and negative eects of IMF stabilization programmes and World Bank structural adjustment programmes on the accountability of public expenditure management in Jamaica in the period 1980±1992. Particular attention is given to the negative accountability eects of IMF budget de®cit reduction targets imposed on a Government uncommitted to meeting such targets. Many of the arguments presented in this article relate to expenditure accountability problems more generally and it cannot be proved that IMF conditionality was the sole cause of these problems. It is argued, however, that IMF conditionality contributed. This argument is based on a large number of semi-structured interviews conducted in 1993 with Jamaican bureaucrats, politicians, donors, academics and private sector representatives, many of whom were involved in Jamaica's budget formulation process, and on analysis of the existing literature and data. The conclusion reached is that donor-guided reform programmes have complex and often con¯icting impacts on the accountability of the Government's budgetary practices. A major question that arises is the relative importance that donors such as the IMF place on budget conditionality as against accountability. The conclusion based on the Jamaican experience is that the IMF placed greater emphasis on the former.